The country’s construction sector grew at its fastest pace so far this year in April with new business on the rise and more people working in the sector.

Construction sector growth slowed sharply in the first month of the year but failed to dent firms’ appetite for new workers which remained strong, the latest Ulster Bank Construction PMI shows.

Total construction activity rose at its fastest pace in almost a decade and at the second quickest rate in the 14-year history of the Ulster Bank Construction Purchasing Managers’ Index (PMI).

Companies controlled by brothers Michael and Richard Larkin have secured a temporary High Court injunction restraining Ulster Bank Ireland transferring their loans to any third party.

The recovery of the construction industry gathered pace last month as growth in residential housing projects hit a 15-year high and employment rose for the eleventh straight month.

A High Court ruling has significant implications for Ulster Bank’s efforts to recover debts in Ireland.

Customers of Irish banks have taken cases against their lenders for mis-selling of interest rate swaps valued at almost €150m.

The owners of Belgard Retail Park in Dublin have sued Ulster Bank Ireland over the alleged mis-selling of derivative loan facilities or swaps totalling almost €54m.

A new system of invoicing will save government departments and state bodies up to €30 per transaction while earning banks millions in fees.

MORTGAGE arrears at Ulster Bank and First Active have soared to over 11%, according to rating agency Standard & Poor’s.

The ratings agency Moody's has downgraded its credit ratings for 12 banks operating in Ireland, despite the Government's plan to create an asset management agency to buy up risky loans.